RIG Thrives Sating Data Hunger of Commercial Real Estate Firms

By Reath, Viki | The Washington Times (Washington, DC), December 8, 1997 | Go to article overview

RIG Thrives Sating Data Hunger of Commercial Real Estate Firms


Reath, Viki, The Washington Times (Washington, DC)


Demand for real estate information has expanded exponentially in the past five years and Realty Information Group in Bethesda is enjoying the benefits.

In that time RIG has increased its list of client real estate firms from 200 to 1,000.

A pioneer when it started providing real estate information 10 years ago, RIG provides on-line data on 65 percent of the nation's commercial, industrial, flex and retail investment space through its CoStar multimedia database.

"The best measure of our growth is our increased number of clients," said Curtis Ricketts, RIG's vice president of sales and marketing.

Client firms, which include 10,000 users, get information through text, images and graphics. The data ranges from every space available to buildings' ages, number of elevators and tenant rosters. It lists assessed values, properties up for sale, vacancy and absorption rates.

"We track 120,000 properties, including 8 billion square feet across the country," he said. "We're in the largest of the top 30 U.S. markets, which includes 65 percent of the nation's office space. Brokers use our data to create visual and multimedia presentations for their tenants."

Wall Street firms and real estate investment trusts as well as top U.S. real estate firms such as CB Commercial and Grubb & Ellis pay from $500 to $10,000 a month for services.

Mary Petersen, senior vice president in charge of research services at the D.C. firm of Cassidy & Pinkard, said brokers could not get standard information on buildings from their computers before RIG was created.

Research departments such as hers use RIG's building information to develop their own analyses, tailored to their clients, Mrs. Petersen said.

"We all have gotten used to using RIG's information," she said. "They are the first firm to provide standard information people can use across the country."

"Commercial real estate in the United States is worth more than $2 trillion," said Andy Florance, RIG chief executive officer and founder. "Historically it was impossible for commercial real estate firms to get consistent accurate information to understand what was going on."

Mr. Florance declined to disclose his firm's revenues, but said the amount

of money generated by information services is a tiny fraction of industry revenues.

The firm has increased its employees to 180, up from 17 three years ago. They work in RIG's offices in Boston, New York City, Philadelphia, Newport Beach, Calif., and Chicago as well as in the Bethesda headquarters and its new San Francisco office, which opened Nov. 24.

Last week, the firm was being filmed as part of an upcoming ABC News feature on fast-growing firms. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

RIG Thrives Sating Data Hunger of Commercial Real Estate Firms
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.